Kosovo's economy is forseen to grow 4.4 percent in the year of 2009 beating an IMF forecast, despite the impact of the financial crisis on its exports and remittances, Deputy Minister of Economy and Finance Bedri Hamza of the Republic of Kosovo said on Thursday."Despite the global financial crisis, Kosovo's economy will not be heavily affected and real growth this year will be 4.4 percent," Hamza told a news conference, presenting semi-annual macroeconomic results.
Meanwhil, the International Monetary Fund has forecast GDP growth of 3.8 percent for 2009, in its recent report down from 5.4 percent in 2008.
"This is positive growth and better than the (other) economies in the region," he said of Kosovo's 3.8 billion euro economy.
Kosovo exports used to cover only 12.1 percent of imports during the first six months in 2008, but fell further this year to only 7.5 percent of imports.
Despite a 39 percent export decline to 62.7 million euros in January-June, the government remains optimistic, Hamza said.
"The crisis has hit badly our exports but this sector is stabilizing because prices of minerals are rising again," Hamza said. "Minerals from Ferronickel and Trepca complex are our main exports."
"Those companies have created reserves. They had no interest in selling minerals at low prices," he added. "In the second part of the year, the companies have started exporting and we have seen an improvement."
The Republic of Kosovo joined the IMF and the World Bank in June of 2009. It expects to join the European Bank for Reconstruction and Development (EBRD) by the end of 2009.
The Republic of Kosovo became independent last year.Its economy is still recovering with recent massive infrastructure rebuilding and heading towards stability and gradual macroeconomic growth. Kosovo has large reserves of lignite, silver, gold, crom, nickel, iron, and other metals.



From October 21 to October 24, 9th edition International Fair Agrokos & Drinks 2009 will take part in the most important economic event from the field of agro-business in the Republic of Kosovo and region. 
The Kosovo Minister of Trade and Industry (MTI), Lufti Zharku, and Chairman of American Tourism Society (ATS), Phil Otterson, held a conference for promoting the Republic of Kosovo in the United States.
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